It was claimed that they were using a mechanism called taper relief - which was put in place to encourage entrepreneurship and reward people who start their own businesses - to lower their tax bill and unfairly boosting earnings.

The taper gradually relief reduces the tax rate over a period of time, in an attempt to encourage more long-term investment.

Business groups like the CBI, among others, have attacked the plan to abolish the taper relief, saying that the proposed flat tax rate would act as a brake on business and discourage new firms from starting in the UK.

Mr Cameron said that the chancellor "must tell us what the capital gains tax system will look like in five months time".

HAVE YOUR SAY

This is clearly a move aimed at pacifying the richer classes of society at the cost of the less well-off